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20110712
20110712
Search Results 0 to 2 of about 3 (some duplicates have been removed)
a prayer for today's meeting then you have senator jon kyl, a republican, saying that the white house essentially walked away from $500 billion in cuts that the do sides had already agreed to so no one right now can point to any progress that these talks are achieving. >> pelley: senator mcconnell proposed a stopgap plan today in case they miss the deadline. what was that about? >> well, it's a pretty complicated plan, scott, and it essentially boils down to allowing the president to raise the debt limit in fits and starts over the next year and a half and essentially puts off any talk of spending cuts to a later date. the plan went over with a thud among house republicans who see this as giving in, but mcconnell says that he doesn't want to be a party to default and he certainly doesn't want republicans to be blamed if there is a default, scott. >> pelley: thanks, nancy. this deal to reduce the deficit could be huge. somewhere between $1 and $4 trillion. they're talking about taxes, social security, medicare, defense and most everyone agrees thisv it has to be done by next week to gi
that, and i think mr. cantor, the majority leader, i do believe that mitch mcconnell and jon kyl all share the same view. we need the biggest spending cut possible. making sure that there are no tax increases on the table. >> bret: why haven't house republicans moved forward their own plan? >> we have a number of members who just don't believe they should ever vote to increase the debt ceiling. >> bret: how are you going to get anything through? >> i think it's pretty clear that there is one option. one option that our members are talking about that. is, and i brought it up with the president today. that is linking the increase in the debt ceiling to real enforcement mechanisms, real budget mechanisms. one of them being a balanced budget amendment to the constitution. most americans believe that washington bought ought to be balanced every year. there has been a big effort to get a balanced budget amendment passed. i think it's one of those ideas where if you could get two-third of the house, or two-third of the senate to support a balanced budget amendment, it would certainly ease t
Search Results 0 to 2 of about 3 (some duplicates have been removed)

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